Thursday’s Futures Setups

Long
Candidates:

Multiple CVR buy signals are setting up tonight. On the E-minis
(
ESH3 |
Quote |
Chart |
News |
PowerRating) look for a 1,2,3 signal at a volatility band or a Fib level – 797.50
is the 50% retracement of the intraday range. Remember, there is a UN vote
tomorrow.

Corn
(
CK3 |
Quote |
Chart |
News |
PowerRating) rallied and may continue here. There is talk
of rain next week, though. The close on Wheat
(
WK3 |
Quote |
Chart |
News |
PowerRating) hit a 127%
extension and bounced. Soybeans
(
SK3 |
Quote |
Chart |
News |
PowerRating) fell  right to the 50% retracement of the last move
down move.  Bean Oil
(
BOH3 |
Quote |
Chart |
News |
PowerRating) may be making a head and shoulders bottom here.

Cocoa
(
CCK3 |
Quote |
Chart |
News |
PowerRating) was trading in a consolidation, and today it looks
like some stops were taken out on the downside with a wide-range up bar.

Coffee
(
KCK3 |
Quote |
Chart |
News |
PowerRating) may be making a double bottom here. 

 

Short
Candidates:

 

The Canadian dollar
(
CDH3 |
Quote |
Chart |
News |
PowerRating)  could pull back
more here. 

Please
note that while there are strong trends, one bar or a series of bars forming a
setup can sometimes indicate a contra move for the next day. This contra move
may not be long-lasting — maybe only for a day or two. Trading with the main
trend is always the highest probability trade. Be
advised that some futures contracts are prone to gaps.